Reverse mortgage provider releases latest annual results
HomeEquity Bank has announced that its 2022 sales levels increased by 30% annually, marking the second straight year that the bank’s reverse mortgage originations in Canada have exceeded $1 billion.
This growth also pushed HomeEquity’s total reverse mortgage portfolio up to $6.28 billion in 2022, a development that it said further solidified its place as a market leader in reverse mortgages for Canadians.
“Canadians have traditionally focused on the dollar value of their home, but now I believe people are starting to see the value their home provides as they look to manage their finances in retirement,” said Steven Ranson, president and CEO at HomeEquity Bank. “We are proud of our achievements in 2022, all of which are a testament to the work of our talented team and the success of our business strategy.”
Ranson added that HomeEquity is ideally positioned for sustained growth amid the growing number of Canadians approaching retirement age.
HomeEquity announces new exec
Contributing to this strategy is HomeEquity’s broker network, which the company said has seen double-digit growth in 2022.
“As part of its commitment to this vital channel, the organization is pleased to announce the appointment of Rene Quercia to the role of senior vice president, mortgage broker channel,” HomeEquity said.
“Rene Quercia comes to HomeEquity Bank as a seasoned financial services executive with over 20 years’ experience, including over 10 years in the mobile mortgage specialist and mortgage broker channel.”
